Stocks to Watch: FedEx, Lululemon Athletica, Cutera
By Ben Glickman
FedEx third-quarter profit rose and topped analysts' estimates as the company's cost-cutting efforts offset continued weak shipping demand. The company said its board had authorized a new $5 billion share-buyback program. Shares rose 13%, to $298.99, after hours.
Lululemon Athletica forecast first-quarter and full-year revenue below Wall Street's expectations. The athleisure company's guidance for profit also came in light, with earnings per share projections missing analysts' estimates. Shares fell 11%, to $425.15, after hours.
Cutera's loss in the fourth quarter widened compared to a year earlier, as revenue tumbled 26%. The skin-treating-device maker said it was expecting revenue to drop as much as 25% in 2024. Shares dropped 11%, to $2.05, after-hours.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
March 21, 2024 20:05 ET (00:05 GMT)
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